7.
LOSS BEFORE INCOME TAX
Loss before income tax is arrived at after charging the following:
Group
2015
2014
$’000
$’000
Depreciation of property, plant and equipment recognised as an
expense in cost of sales
700
611
Inventories recognised as an expense in cost of sales (Note 16)
118,527
165,048
Operating lease expenses recognised as an expense in cost of sales
485
139
Audit fees paid/payable to:
– Auditors of the Company
217
224
– Other auditors
21
21
Non-audit fees paid/payable to:
– Auditors of the Company
7
–
Directors fees payable to:
– Directors of the Company
234
210
Staff cost (including directors)
– Salaries, bonuses and allowances
5,342
7,246
– Employer’s contributions to defined contribution plan
483
480
– Other staff welfare expenses
223
288
Legal and professional fees
417
416
Consultancy fees
–
1
Included in other operating expenses:
Foreign exchange loss, net
7
–
Depreciation of property, plant and equipment
1,720
1,855
Amortisation of intangible assets
31
40
Loss on disposal of intangible assets
–
69
Property, plant and equipment written off
46
76
Impairment of property, plant and equipment
538
1,659
Write down of inventories to net realisable value
2,144
9,783
Write off of inventories
34
638
Allowance made for doubtful trade receivables
264
2,714
Bad debts written off
7
237
Operating lease expenses
6,213
6,334
Fair value loss on forward currency contracts
59
45
Other receivables written off
–
368
78
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
